Friday, 19 September 2014
Last updated 7 hours ago
May 7 2014 | 11:04am ET
Hong Kong’s Securities and Futures Commission today moved to bar two former Tiger Asia Management executives from trading in the city.
Tiger Asia founder Bill Hwang, former head trader Raymond Park and the firm itself should be forbidden from trading in Hong Kong for up to five years, the SFC told Hong Kong’s Market Misconduct Tribunal. Tiger Asia pleaded guilty in the U.S. to insider-trading of two Hong Kong-listed stocks, and last year lost its effort to keep the SFC from barring the firm and its principals.
Since the guilty plea, Tiger Asia has become a family office called Archegos Capital Management, which still employs both Hwang and Park. “The potential still exists for market misconduct,” SFC lawyer Simon Westbrook said.
Archegos laywer Peter Duncan argued that trading bans were designed to protect investors and not to punish misconduct. The so-called “cold shoulder order” would be “unduly harsh and oppressive,” he said.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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